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| Press & News |
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Lighthouse1 Continues Leadership in On-Demand Healthcare Solutions |
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April 19, 2010 – Minneapolis, MN -Lighthouse1, an industry leader in consumer-driven healthcare (CDH) administration software solutions, announced today that the company experienced an exceptional year in 2009 in terms of growth and services. Additionally, the company has formed a number of key partnerships in the first few months of 2010.
In early 2009, the company launched the Lighthouse1 Benchmark Scorecard, which provides Lighthouse1 partners the ability to compare their performance against their peers and gives them unprecedented business views that extend beyond key performance metrics. The company increased its partner base by 130 percent to more than 90 partners, and together with them, now serves more than 2.5 million consumers. Last year, Lighthouse1 OnDemand™ facilitated more than $1.5 billion in reimbursement transactions and processed more than 16 million claims, all with an uptime of 99.999%.
“The Lighthouse1 business model provided the foundation we needed for rapid growth, both for our company and for our partners, in 2009,” said Jeff Brunsberg, chief market officer for Lighthouse1. “With our Software-as-a-Service model, Lighthouse1 OnDemand offers the scalability our competition lacks as well as the ability to add new features and functionality on a regular basis.”
Specifically, the Lighthouse1 OnDemand Consumer Portal was redesigned based on extensive customer feedback and usability testing. Features added to Lighthouse1 OnDemand in 2009 included enhancements to the configurability of the system, upgrades for administrator operations such as the automation of recurring claims, enhancement of auto-substantiation processes and additional business intelligence and reporting capabilities. Additionally, the Lighthouse1 OnDemand design was enhanced to accommodate the increasing demand in HSA participation. Upcoming functionality will include a focus on additional mobility applications beyond the existing iPhone application.
Lighthouse1 continues to build key relationships, signing multi-year partnerships with two of the nation’s largest banks as well as a number of the nation’s largest health plan providers and leading third party administrators to provide additional features and functionality to their respective existing CDH offerings. The partnerships solidify Lighthouse1’s leadership in the consumer-driven healthcare industry.
“In the ever-changing healthcare industry, consumers want more control over healthcare spending for themselves and their families. That, combined with increased employer expectations and a challenging economy, creates tremendous opportunities in the consumer-driven healthcare industry,” said Jeff Young, president and CEO of Lighthouse1. “Because of our robust business model and our strong network of partners, we are poised to combine superior services and innovative technologies, helping consumers maximize their healthcare dollars.”
In 2009, Lighthouse1 continued its commitment to providing a superior value proposition to its partners with Revolution ’09, its annual partner conference. Revolution ’09 brought together the most highly respected experts in consumer-driven healthcare with Lighthouse1 strategic and administration partners. The conference is a powerful catalyst for both partners and prospects, with 80 percent of prospects attending the event signing with Lighthouse1. The Lighthouse1 Partner Conference (formerly Revolution) will take place June 15 – 17 this year in Minneapolis.
About Lighthouse1
Lighthouse1 and its partners serve more than 2.5 million consumers, making Lighthouse1 the nation’s largest web-based healthcare solution that manages HSAs, HRAs, FSAs, and Transit Plans. It is the only solution available today that meets more than 1,100 unique benefit plan designs, simplifies the user experience, and satisfies workflow management needs of administration partners, employers, and consumers. It does all this on one technology platform comprised of Lighthouse1 OnDemand, the Lighthouse1 OneCard, and fully integrated web-based portals available 24/7/365. Lighthouse1 and its partners are dedicated to reducing costs and simplifying the business of healthcare. Visit www.lighthouse1.com for more information.
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